Upon further review of the streaming success of Frozen 2 and Rise of Skywalker, Disney has revised its guidance and has forecasted a total revenue increase of $4,522,050,000 for FYE 2020.

  

Restructuring & Impairment charges will grow a rate double that of sales growth, and other income will growth at a rate half of sales growth.

Assuming the profit margin, Debt to Equity, and Dividend Payout Ratio remain constant, what is the projected Balance Sheet Retained Earnngs for FYE 2020?

• 50,948M
• 51,033M
• 16,557M
• 8,539M

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The Wacr Disnep Company CONSOUDATED STATEMENTS OF INCOME CONSOLIDATED BALANCE SHEETS Excluding discont. operations (in millions) (in millions) 2019 2019 2019 ASSETS LIABIUTIES AND EQUITY Revenues: Current assets Current Liabilities 5,418 15,481 60,542 Cash and cash equivalents Receivables Services Accounts payable and other accrued liabilities 17,762 Products Current portion of borrowings Deferred revenue and other 9,028 8,857 Total revenues 69,570 Inventories 1,649 4,722 Costs and expenses: Television costs and advances 4,597 Total Current Liabilities 31,341 Cost of services 36,450 Other current assets 979 Non-Current Lia bilities Cost of products Selling, General, Administrative Depreciation and amortization Total costs and expenses 5,568 Total Current Assets 28,124 11,541 Long-Term Debt 38,129 7,902 13,760 4,160 Non-Current Assets Deferred income taxes 22,810 3,224 57,719 Film and Television Other long-term liabilities Restructuring and impairment charges 1,183 Film Investments Other income, net 4,357 Redeemable noncontrolling interests 8,963 EBIT 15,025 Equity Parks, Attractions, Resorts, and Equipment, Net 26,174 4,264 Interest expense, net Equity in the loss of investees, net Projects in progress Land 53,907 42,494 978 Common stock Retained earnings Accumulated other comprehensive loss Treasury stock Total Disney Shareholders' equity Noncontrolling interests Total Equity 103 1,165 Earnings Before Taxes 13,944 -6,617 3,031 10,913 Income taxes Intangible assets, net 23,215 -907 Net Income Goodwill 80,293 88,877 Other assets 4,715 165,860 5,012 Dividends, Net 2,895 Total Non-Current Assets (Fixed Assets) 93,889 Addition to RE 8,018 Total Assets 193,984 Total Liabilities and Owners Equity 193,984 The Wacr Disnep Company CONSOUDATED STATEMENTS OF INCOME CONSOLIDATED BALANCE SHEETS Excluding discont. operations (in millions) (in millions) 2019 2019 2019 ASSETS LIABIUTIES AND EQUITY Revenues: Current assets Current Liabilities 5,418 15,481 60,542 Cash and cash equivalents Receivables Services Accounts payable and other accrued liabilities 17,762 Products Current portion of borrowings Deferred revenue and other 9,028 8,857 Total revenues 69,570 Inventories 1,649 4,722 Costs and expenses: Television costs and advances 4,597 Total Current Liabilities 31,341 Cost of services 36,450 Other current assets 979 Non-Current Lia bilities Cost of products Selling, General, Administrative Depreciation and amortization Total costs and expenses 5,568 Total Current Assets 28,124 11,541 Long-Term Debt 38,129 7,902 13,760 4,160 Non-Current Assets Deferred income taxes 22,810 3,224 57,719 Film and Television Other long-term liabilities Restructuring and impairment charges 1,183 Film Investments Other income, net 4,357 Redeemable noncontrolling interests 8,963 EBIT 15,025 Equity Parks, Attractions, Resorts, and Equipment, Net 26,174 4,264 Interest expense, net Equity in the loss of investees, net Projects in progress Land 53,907 42,494 978 Common stock Retained earnings Accumulated other comprehensive loss Treasury stock Total Disney Shareholders' equity Noncontrolling interests Total Equity 103 1,165 Earnings Before Taxes 13,944 -6,617 3,031 10,913 Income taxes Intangible assets, net 23,215 -907 Net Income Goodwill 80,293 88,877 Other assets 4,715 165,860 5,012 Dividends, Net 2,895 Total Non-Current Assets (Fixed Assets) 93,889 Addition to RE 8,018 Total Assets 193,984 Total Liabilities and Owners Equity 193,984